Loading…
Agriculture and Agri-Food Canada cut its 2023/24 canola export forecast to about 7 million tonnes, down 1 million from last year, and lowered ending stocks forecasts for oilseeds. It slightly raised its wheat export forecast to 23.5 million tonnes while raising the 2024/25 crop estimate to 33.9 million tonnes.
A smaller canola export program and tighter ending stocks support canola meal and oil prices, while a larger projected 2024/25 wheat crop adds bearish pressure on future wheat supplies.
ukragroconsult.comFeb 19, 2024Not enough comparable past events yet for a historical read.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
